Local aircraft designer and manufacturer Aerospace Industrial Development Corp (AIDC, 漢翔航空工業) on Tuesday signed an agreement with Martin-Baker Aircraft Co to purchase ejection seat systems.
The British firm’s ejection seats are to be used in AIDC’s advanced jet trainer (AJT) that it is building for the air force, the company said.
AIDC chairman Anson Liao (廖榮鑫), who led a delegation to London to ink the accord, said in a statement that the agreement was a milestone for Taiwan’s national defense supply chain.
The Ministry of National Defense has commissioned AIDC and its supply chain to design and manufacture 66 advanced jet trainers, with the first prototype scheduled to be completed in 2019 and flight tests expected to start in 2020.
The 66 aircraft are scheduled to be delivered by 2026 and are to replace the military’s AT-3 trainer aircraft and F-5 jets, which are more than 30 years old.
“The contract between AIDC and Martin-Baker facilitates cooperation opportunities and is a major milestone in the launch of AJT systems,” AIDC said in the statement.
“Both parties will work together, not only to achieve the goal of making the AJT program successful, but also to extend future collaboration in areas such as ejection seats, pilot personal equipment, parachutes” and other equipment, the firm said.
The firms did not disclose financial terms for the agreement.
Representative to the UK David Lin (林永樂), who witnessed the signing of the agreement, said Taiwan values exchanges between Taiwanese and British enterprises, and Martin-Baker’s support for the nation’s advanced jet trainer development is appreciated.
Through the agreement, Taiwan and the UK will strengthen cooperation in aviation development to create a safer environment, he said.
The agreement would further integrate AIDC’s supply chain, which would help it deliver the 66 trainers on schedule, Liao said.
“We also expect to provide a chance to foster talent in the aerospace industry and strengthen the links between industries in Taiwan, which can lend great support to the development of AJTs and next-generation fighters,” Liao said.
AIDC shares yesterday rose 2.3 percent to close at NT$37.75 in Taipei trading, outperforming the TAIEX, which ended up 0.26 percent.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
WARNING SHOT: The US president has threatened to impose 25 percent tariffs on all imported vehicles, and similar or higher duties on pharmaceuticals and semiconductors US President Donald Trump on Wednesday suggested that a trade deal with China was “possible” — a key target in the US leader’s tariffs policy. The US in 2020 had already agreed to “a great trade deal with China” and a new deal was “possible,” Trump said. Trump said he expected Chinese President Xi Jinping (習近平) to visit the US, without giving a timeline for his trip. Trump also said that he was talking to China about TikTok, as the US seeks to broker a sale of the popular app owned by Chinese firm ByteDance Ltd (字節跳動). Trump last week said that he had
STRUGGLING TO SURVIVE: The group is proposing a consortium of investors, with Tesla as the largest backer, and possibly a minority investment by Hon Hai Precision Nissan Motor Co shares jumped after the Financial Times reported that a high-level Japanese group has drawn up plans to seek investment from Elon Musk’s Tesla Inc to aid the struggling automaker. The group believes the electric vehicle (EV) maker is interested in acquiring Nissan’s plants in the US, the newspaper reported, citing people it did not identify. The proposal envisions a consortium of investors, with Tesla as the largest backer, but also includes the possibility of a minority investment by Hon Hai Precision Industry Co (鴻海精密) to prevent a full takeover by the Apple supplier, the report said. The group is